Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,759 shares of the information services provider’s stock after selling 11,186 shares during the period. Penserra Capital Management LLC’s holdings in Alphabet were worth $6,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter worth about $32,000. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP bought a new position in Alphabet in the 2nd quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock worth $27,803,730 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.2 %

Alphabet stock opened at $174.71 on Friday. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.24 and a beta of 1.01. The company has a 50 day moving average price of $169.51 and a 200 day moving average price of $170.24.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm posted $1.55 earnings per share. Research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.